Bausch Will Look At Selling Eye Care Business If It Doesn't See Increase In Overall Valuation
CEO Joseph Papa says firm isn’t valued equal to sum of its parts. "If some of the parts don't seem to make sense or don't seem to be capturing the full value of a business,” Bausch “will look at all the alternatives for looking at things like spin-offs of parts of the business,” he says.
You may also be interested in...
Bausch reported global sales of Lumify eye drops, PreserVision supplements and other consumer health products up 8.9% to $353m. However, its net loss grew to $152m from $52m in the year-ago period on a $65m dent in its income due to mass postponements of ocular and dermatologic surgeries.
Lumify eye drops, the first OTC brimonidine tartrate ophthalmic solution 0.025% in the US, will reach stores in late May. Corporate name change, says CEO Joseph Papa, shows Valeant is "beginning to turn the page away from legacy issues that have been headwinds over the past few years."
Recent US consumer health and beauty product recalls also include three shades of lip moisturizer with sunscreen, made by Pfizer and marketed by GSK due to a packaging problem. A Florida firm recalled one lot of a CBD oil tincture after a state agency’s test found high lead levels.